UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has announced only a few luxurious penthouse apartments remain within its Anantara The Palm Dubai Residences development.

 

All other units within the Palm Jumeirah development have now been sold, excluding the final phase which features a limited number of penthouse apartments, each of which occupy prime positions within the North and South Towers of the five-star residential community, said the developer.

 

The four-bedroom penthouses are being sold fully fitted, with prices starting from AED21,579,888 ($5.87 million). All units feature panoramic views of the Arabian Gulf, Burj Al Arab and the Dubai Marina skyline, as well as a sunken swimming pool and an extensive private outdoor terrace.

 

The announcement comes at a time when Dubai’s high-end property market has witnessed exponential growth in demand, especially for ultra-luxury properties, with 54 sold in the first 9 months of 2021, according to the Dubai Land Department (DLD).

 

The ValuStrat Price Index, indicates that the Palm Jumeirah apartment market was particularly popular among real estate buyers in 2021, recording an annual price increase of 17.4% with real estate consultancy Core, commenting that prices for the majority of upscale apartment locations in Dubai will continue to increase throughout 2022.

 

Furthermore, a report from Luxhabitat Sotheby’s International Realty stated that AED4.2 billion was spent on luxury real estate on the Palm Jumeirah alone during Q2 2021, the highest transactional value in Dubai during that period, adding that demand was ‘here to stay'.

 

Seven Tides International CEO Abdulla Bin Sulayem said: "This is an excellent opportunity for investors of all nationalities to secure a luxury freehold property in the Thai-inspired Anantara The Palm Dubai Resort development."

 

"These penthouse apartments, which are complete and ready to move in to, are perfect as second or holiday homes, where residents can take advantage of the facilities and amenities as well as high-end restaurants and bars within the five-star resort, away from the hustle and bustle of the city," he added.

 

Bin Sulayem said investors can also take advantage of a payment plan for the penthouse apartments, which entails paying 15% upon reservation, with further 15% instalments, thirty, sixty and ninety days from the reservation date, with a final payment of 40% upon completion.

 

“We can also assist with a leasing strategy on a long-term basis, or the apartment can be added to the hotel rental management scheme, whereby the unit becomes a part of the hotel inventory and bookings are managed by the hotel reservations team,” he added.-TradeArabia News Service